Cargills Bank Limited with a sound capital base, personalized customer service and a strong product portfolio, is set to make a paradigm shift in the banking industry in Sri Lanka not witnessed by its people for the past couple of decades. We wish to focus as the most inclusive bank harnessing the spirit of progress in every Sri Lankan.
The largest shareholders of Cargills Bank Limited are Cargills (Ceylon) Plc and CT Holdings PLC, highly diversified conglomerates listed in the Colombo Stock Exchange with interests in entertainment, hospitality trade, property development, manufacturing, food processing and retailing.
The retail mobile banking options for millennials and other mobile 1st retail banking customers.
The mobile based online user registration omits the burden of accessing a web browser to get on board, followed by a secured authentication process. Upon registration with the app, users have the access to a wide range of banking functions including view account portfolio, past transactions, funds transfers, bill payments, standing orders, budget management, request option for cheque books, e-statements and SMS notifications.
Using Cargills Food City Retail Network
Users are privileged with a number of mobile specific transactions. Mobile based cash deposits enable users to perform transactions at island wide Cargills food cities without restricting to the official banking hours. Transactions are authenticated via secured PIN numbers to verify the depositor in order to meet the regulator’s money laundering requirements.
Similarly, users are able to perform cash withdrawals at Cargills outlets within the predefined transaction limits by the bank. This eliminates the burden of waiting at the long ques of the bank and provides convenience through the island wide Cargills food city outlets.
Last Mile Inclusion
Remittance is another efficient way to transfer cash, especially for non-account holders. With this option, users could define beneficiary personal details in the system and system randomly generates a unique PIN number for the particular transaction. Once the user communicates the PIN to the beneficiary, the beneficiary may visit the nearest Cargills outlet to make the cash withdrawal using the same PIN number. This option adds value to the bank by also including customers without financial literacy into the banking world.
The purchase option provides the convenience for Cargills Food City customers to settle their bills directly at the food outlet by just confirming the payment over the phone, with a single click. This makes the bill settlement process much more effective by saving time for both customer and cashier.
Cargills bank's retail internet banking facility provides an advanced digital platform for the bank’s customers to meet their day to day banking needs.
The online user registration process has made the customer onboarding process seamless by having eliminated the need for visiting a bank branch. The system provides a superior experience to perform transactions by associating with intelligent features. The dashboard enables users to personalize the interface according to individual user preferences.
The graphical presentation of the account portfolio provides quick information to customers on assets and liability status and allows for the retrieval of detailed account information as well as past transactions.
National Payment Systems
This platform provides greater convenience to users for cash movements between same bank accounts as well as to other bank accounts via CEFT or SLIP facility in real time or even by scheduling to a different date as a one-time or a recurrent transaction.
Beneficiaries could be notified with regard to the payment via an SMS or an E-mail. Through the beneficiary management, users are able to save and manage the details of their beneficiaries in performing future transactions.
One Stop Shop
for Utility Payments
The utility bill payment option supports online payments to a number of vendors while facilitating to schedule payments even on a recurrent basis. The bill payment management and bulk bill payment options provide a greater convenience by issuing timely monthly bill payments.
The internet banking users have been encouraged for savings via a budget management option available in system, where users could define a monthly commitment to save through their earnings.
However, the users have the easy access to bank officials to inquire afore mentioned range of facilities through the messaging option provided in system and to make general requests via request option such as cheque book requests.
The Cargills bank's corporate internet banking facilitates a bunch of unique features to accommodate regular financial management requirements of small, medium and large corporates.
Setup and Entry
The system maintains an advanced company and user set-up process to perform transactions in line with the company’s board resolution. At the time of the company’s establishment, the specific company roles and accounts which will have access to the internet banking must be defined with prior approval by the management. This includes specifying the approval count required to execute a transaction within a certain transaction value.
Upon successful registration, company users could manage company’s general banking functions at the office premises, including viewing account portfolio, retrieving past transactions, funds transfers, bill payments, standing orders and request processing for cheque books, E-statements and SMS activation.
The system connects to third party government bodies including Sri Lanka customs for duty payments and central bank to settle company statutory due amounts. In the case of custom payments, companies could submit and validate the payment information online with Sri Lanka customs before the payment and thereafter, could confirm the payment to obtain confirmation along with the invoice number.
The EPF file management option facilitates payment of monthly EPF dues of company’s employees directly to central bank. In the case that the uploaded details contain incorrect information, users are able to obtain an error log for the specific upload.
Companies could implement their investment and financing decisions by accessing either cash management, trade or invoice financing modules. The cash management module handles cash movements through multiple channels to local and foreign parties in relation to business transactions.
The bulk transfer function enables corporate users to upload bulk transfers, such as salary uploads, in a one-time process. Corporate user should provide the transfer request or file in SLIPS transfer format and upload to the corporate internet banking system.
Innovative Invoice Financing Module
Invoice financing module integrates with Cargills food city and suppliers of Cargills food city to facilitate real time invoice discounting. In this system, Cargills food city uploads the GRN (Good Received Notice), the invoice of an underline transaction where the suppliers could request an advance and the loan from the bank. At the end of the credit period, Cargills Food City needs to settle the bank for the total invoice amount of the supplier, where the bank will recover interest and charges before transferring the balance amount to the supplier.
Bulk remittance function facilitates to send money to multiple non-banking customers at once. Corporate user generates a file with required details and uploads the file to the system. Once the transactions are verified & approved by the company level, system generates PIN numbers which are sent to the beneficiary’s mobile numbers. Beneficiaries could walk to a bank agent (such as Cargills food city) and make the cash withdrawal upon successful verification.
The cash management module incorporates the Outward Telegraphic Transfer option to accommodate funds transfers to foreign third parties. Since the application validates the input according to SWIFT validations, it ensures the minimum rejects through the process. Real time gross settlements and demand draft options are available for cash transfers to local parties and with the bulk demand draft option, users could generate multiple drafts at once. The cash withdrawal option in the module provides a solution to manage bulk cash withdrawal to large corporates since bank officers are able to arrange the bulk cash orders ahead.
Trade module facilitates company users requests to establish a Letter of Credit (LC), shipping guarantee or bank guarantees. The LC application validates all the inputs according to the SWIFT validation to ensure the accuracy of the requests. In addition to this, system processes LC amendments, modifications and cancellations according to the SWIFT message formats.
Chatbot is a conversational dialogue engine which makes it possible to respond to client inquiries intelligently.
LISA the AI Bot
The sophisticated chatbot is a secure service embedded in Facebook Messenger where the customer can easily type in the questions. The program provides responses by simply scanning the keywords within the input statement and the learnings based on the previous conversations. As chatbot receives more inputs, the accuracy of the responses in relation to the input statement increases, since chatbot captures all customer inquiries.
- AI Driven
- Responds to client inquiries intelligently
- Artificial intelligence scans the keywords within the input statement
- Picks the best match for the response
Modes of Lisa
- Base option - Intelligently serving all banking inquiries and required banking services
- Enables building of an AI based platform that performs human like decision making
- Transforms the way your staff and customers interact with one another
- This is the premier version of Lisa which comes with base mode and transactional services
- Will serve as a transactional platform for banking clients
Cargills Facebook application is an alternative channel for Cargills bank's customers to perform day to day banking activities around the clock in a convenient manner.
with Facebook Banking
This is fully integrated with Facebook social network application and Cargills Internet/Mobile Banking module backend systems.
This platform enables the user to enhance their customer experience in banking with Cargills where Facebook banking comes as a convenient method through a social platform. Existing users of retail internet/mobile banking may simply login to Facebook banking with the same user credentials while authenticating via One Time Password authorization. Additionally, to ensure the security of the application a variety of transaction limits including daily limit, transaction limit and OTP initiation sealing value are available in system.
Cargills bank customers are privileged for banking through Facebook, making utility bill payments and other payment options and many more features embedded in this app. The exciting aspect is that users could pay their friends, receive funds from friends by accessing Facebook via web or mobile application.
The Invite Friend feature requests friends to join with Facebook banking which creates an opportunity for Cargills bank to approach more customers. Facebook friend receives a Facebook notification for the Facebook application. If Friend is already registered with Facebook banking, user navigates to Facebook banking login page through this notification. If he/she is an existing customer of internet banking, first time login process needs to be followed to become a regular Facebook banking customer.
Pay A Friend
This option enables users to make payments to Facebook friends who are registered with Affluence Facebook banking during any time of the day. To initiate a transaction, user needs to specify the account from which the payment must be made and the name of the receiver.
This option facilitates users to send money even to non-customers of Cargills bank by debiting their account. Users login to affluence cash application and enter debit amount and beneficiary details. Once user submits the transaction, OTP is generated and sent via SMS to user’s registered mobile number. Once user confirms the transaction with the received OTP with a successful validation, a PIN number is generated and send to user’s registered mobile number via SMS.
Cargills bank uses Fortunaglobal’s Connect Middleware as the Single Transactional Routine Middleware for all internet banking including ATM, OTC, Web, Mobile, SMS and Inter Central Switch Payment routines.
Irrespective of the size, locality and business volumes of the bank, Affluence Connect enables customers to enjoy faster and easier processing of large transaction values, with an integrated communication link between their in-house systems, bank and the outside payment networks.
For the first time in Sri Lanka, you can deposit and withdraw cash at any Cargills FoodCity outlet and purchase goods using your mobile phone.
- You can Send Cash instantly to any mobile phone, and Withdraw Cash from any Cargills Food City outlet.
- You get guaranteed Cash, at any Cargills Food City outlet.
- You can access your bank account securely and instantly, anytime, anywhere and on any day.
- You have the utmost convenience, whether you are at home or out shopping.
Making further in-roads in to CASA, the bank launched its Cargills Cash Savings Account with a state-of-the art mobile app enabling the users to deposit and withdraw cash through Cargills Food City check-out counters, purchase goods using the app and send cash to any mobile with the same app.
The ability to deposit and withdraw cash via over 300 plus Food City outlets will give much leverage for the bank to mobilize deposits without much effort and without the need to spend on capital expenditure – a luxury its competitors do not have.